Atlantic strikes more Nova Scotia gold
THE DRILL SERGEANT: Australian gold exploration and development company Atlantic Gold has identified a third zone of geochemically anomalous gold in bedrock during a regional exploration drilling program over the Meguma Terrane, in Nova Scotia in eastern Canada.
Atlantic has identified the new gold zone at Caduesky Lake in the western part of Nova Scotia.
Although the absolute gold values achieved are modest the company said it considers the results to be encouraging in terms of the wide sample spacing and the relative values against a very low background.
The company said the numbers also stack up when compared to other regional geochemical haloes located around its Touquoy and Cochrane Hill gold deposits.
Atlantic indicated it has further step-out interface drill traverses planned to be conducted in the next several weeks to build on these early results.
“At the other two identified gold-anomalous zones in the region – West Caledonia and Moses Lake – further assays have been returned and follow-up drilling has since been conducted,” Atlantic Gold said in its ASX announcement.
“The West Caledonia anomaly has been extended to the northeast and is now about four kilometres long.
“Infill drilling has confirmed the main Moses Lake anomaly, though its strike extent remains to be established.
“Further interface drilling is required to narrow the focus of these anomalies prior to conducting a diamond drilling program.”
So far Atlantic has carried out approximately 900 interface holes for over 11,000 metres of drilling along 50 traverses, on 14 properties.
Over the last four weeks drilling has been conducted in the eastern part of the Meguma Terrane, in order to complement a program of ground mapping and prospecting on selected targets.
Atlantic is still waiting to receive about 250 assays from this Eastern drilling, consisting of some 150 holes.
The company said it anticipates a turnaround of around four weeks for these results; in the meantime drilling is continuing.
